Federal Bank Federal Digi Gold Overdraft

Loan Against Gold Ornaments from Federal Bank

Leverage the potential of your gold jewellery to pare down your debt

Federal Bank Federal Digi Gold Overdraft

This overdraft helps borrowers access needed funds by pledging their 22-carat gold ornaments. This loan can be used to meet any financial needs such as a wedding, overseas travel, higher education, etc. as well as to consolidate high-interest debts. The interest is charged only on the amount utilised by the borrower.

Features of Federal Digi Gold Overdraft (Overdraft Against Gold Jewellery)

Why this Loan?

  • The Federal Bank Digi Gold Overdraft is meant for borrowers who want to get funds by pledging gold jewellery/ornaments or specially minted gold coins sold by banks to meet their financial needs
  • This overdraft can also be availed as a consolidation loan to pay off high-interest debts
  • Existing Federal Bank customers do not need to do more paperwork to avail this loan

Loan Amount

  • The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 1.5 crore.


  • The interest rate applicable to this overdraft can range anywhere from 8.50% to 12.00%


  • This overdraft must be repaid within 12 months


  • Borrowers should be above 18 years of age
  • Borrowers must be the true owners of the gold ornaments, jewellery or specially minted gold coins sold by the banks

Security Needed

  • The bank accepts pledging of gold ornaments or gold coins duly verified for quality and quantity to secure this loan

Processing Charges

  • As of October 2020, this information is not mentioned on the bank’s website. We suggest calling the bank customer care number to know more details

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.

Reference Facts:

  • Federal Bank Website: www.federalbank.co.in
  • Headquarters: Kochi, Kerala
  • Call Centre Toll-Free Number: 1800 425 1199, 1800 420 1199